Shares of IAMGOLD Corporation (NYSE: IAG) experienced a notable surge following the company’s announcement of a key regulatory filing. At the time of the latest market check, IAG stock was trading at $6.57—up 12.99%—as investor sentiment responded positively to the release of a comprehensive technical report related to one of the company’s most promising assets.
Nelligan Gold Project Sees Substantial Resource Growth
IAMGOLD officially filed its “NI 43-101 Technical Report on the Nelligan Gold Project, Québec,” dated April 2, 2025. Prepared by SLR Consulting (Canada) Ltd., the report outlines significant growth in mineral resources at the 100%-owned Nelligan site.
As of December 31, 2024, the project boasts 3.1 million ounces of gold in the Indicated category within 102.8 million tonnes at an average grade of 0.95 grams per tonne (g/t Au). Inferred resources have also increased to 5.2 million ounces in 166.4 million tonnes at 0.96 g/t Au—representing a 56% and 33% rise in Indicated and Inferred ounces, respectively, over the previous year.
Broader Updates to Global Resource Portfolio
In addition to Nelligan, IAMGOLD reported updated figures across its broader portfolio. With Measured and Indicated Resources at 26.7 million ounces, a 3% increase from the previous year, the company’s Proven and Probable Reserves currently stand at 10.7 million ounces of gold.
The Inferred Resource category rose by 27% to 12.8 million ounces. At Essakane, Mineral Reserves increased 5% despite depletion, while Côté saw a 4% reduction due to ongoing drilling. Meanwhile, Westwood maintained its reserve base near one million ounces.
Strategic Focus on Exploration and Expansion
Looking ahead, IAMGOLD has set an ambitious target of 45,000 metres of drilling in 2025 at its Côté and Gosselin properties. IAG aims to convert Inferred resources into Indicated ones, particularly in the Gosselin zone, while evaluating additional extensions and breccia zones at depth.
The revised mining plan and updated Mineral Reserve and Resource estimate, which are anticipated in 2026, will be supported by these activities. With Nelligan emerging as a possible cornerstone project for future development, IAMGOLD’s (IAG) strong position in the global gold industry is further reinforced by its ongoing exploration success and strong reserve growth.
